Silver Squeeze: Is this the BIG ONE?
New chart by SRS Rocco tells the story… given the false price signals mining output has actually fell in the last few years. A rise in investment demand can and will break the back of the false paper futures price discovery scheme.. last week’s paper games notwithstanding;
The Silver Market can't deal with Total Silver Investment being higher than Industrial Demand.
— SRSrocco Report (@SRSroccoReport) February 28, 2021
I like Clif too. I think whether he is useful depends on what you are after.
Want to know when the silver market is gonna break so you can buy big the week before? He will prove as accurate as any other newsletter writer. Want to see some interesting lateral thinking about the nature of money, value and get early warning signs that perceptions are changing? He seems really interesting for that.
Imma keep listening. He just did a video on testosterone BTW, that might be interesting to some here. He seems like a guy in tune with the PP attitude about finding both natural and pharma based substances that have data behind them.
Dunagun Kaiser from Liberty and Finance had an interview with Andy Shectman, the CEO of Miles Franklin Precious Metals, to give
“…a quick situation update from inside the strained gold & silver supply chain, and to lay out the startling and unprecedented signals of the supply shortfalls that reveal a physical scramble.”
I thought it was an interesting inside look into what’s going on in the precious metals market (particularly silver), from someone whose been in the business for a long time. Especially his comments on things he’s never seen before.
Andy sounds downright exhausted from trying to keep up with the recent demand (a good problem for a seller to have)!
Thanks pinecarr. Ive decided to really follow this story. When “things are happening” you can learn a lot, as we just did with Covid.
I once ordered a 10 ounce Year Of The Dragon Silver coin from a Canadian online coin shop. I had to pay by Interact transfer (no credit cards) so I was nervous about that. Anyway 5 business days later I hear the store is out of business.
My order showed up, but I think it was one of that last to ship. This happened because the guys weren’t hedged and Silver prices had been volatile. I don’t think they were crooked, just not sophisticated and in over their heads.
I was reminded of this by an interview (I havent watched yours yet) where Andy relayed that he now has to make orders and pay a premium and hope the premium doesn’t disappear on him before he can sell the coins. I guess there is no way to hedge that part of the business.
Very interesting times…
I know that the spot price is not responding to the pressure on the physical market.. but what did we expect really? If anything Silver “pricing” is now a full-blown psychological operation meant to dishearten the squeezers.
The truth is this has got to be hurting the bullion bank shorts right in their… shorts. There is a rotation out of SLV and into PSLV that is bringing 1000 ounces bars along with it. 25 million ounces in the last month! That is a huge increment. To further illustrate, SLV volume today was under the average… PSLV was 3X the old average volume. For the moment, this is what winning looks like.
Jim — I think my funds (transferred from bank) become available on my brokerage account tomorrow. The roughly 1-week delay just means I get to buy 10% some PSLV and 20% more AG for the same money. <smile>
May Fortune smile upon us all!
VIVA — Sager
I saw this on JSMineset.Com. I got a chuckle out of it. They must have printed it before they realized their misspelling. – Grover
Good points above 25 million more ounces in PSLV in one month – I think that the They are sweating it out.
I promised a chart – I hope this works. I haven’t used Dropbox for the longest time.
This is the SP500 divided by the price of Silver. The Price going up indicates that the SP is appreciating faster than Silver or depreciating slower than Silver and vice versa. As you can see on this weekly chart Silver has done better than the SP since July 2017 including yesterday as the last weekly bar on the chart.
So why bother with an overvalued stock market – paying fees for everything, when a similar rate of return can be “earned” while at the same time giving the Banks the see you later?
That Silver vs SPX chart is another way to look at the inevitability of the coming commodity supercycle.
I have been monitoring to see if either the premiums or the shortages abate, which would suggest that the movement to physical Silver either has legs or does not. I use Texas Precious Metals as my bellweather because they only sell what they have in stock.. i.e. they don’t sell ahead. Starting on Feb. 20 they had 12 items in stock for All Available Silver products. Since then it has hovered in the 9-10 items area. Between last night and today they sold more of their lower premium Silver and are now down to a recent low of 5 items in stock, as can be seen at the top of this page;
The run continues… even though the bankers are trying very hard to mute the movement by keeping Silver constantly in the red on Comex price.. the MOVEMENT continues if you know where to look.
The paper futures short volume beatings across your knuckles will continue until you write, “I don’t want Silver” 1000 times on the blackboard.